NEW YORK (GenomeWeb) – Genetic testing startup Singlera Genomics announced today that it has raised $20 million in a Series A financing round.
The round was led by Lilly Asia Ventures, and included Green Pine Capital Partners and CDBI Partners, among other investors.
Singela was founded in mid-2014 to commercialize noninvasive prenatal testing technologies developed at Johns Hopkins and the University of California, San Diego. The company has also been working on developing genomic sequencing tests for cancer and other diseases, and recently formed a partnership with Fudan University's Taizhou Health Science Institute to identify biomarkers of early-stage cancer.
The firm said it would use the proceeds of the financing round to facilitate the development and commercialization of its genetic tests, as well as to expand its R&D operations and efforts around new product lines for tumor diagnosis and personalized treatment.
"Singlera's noninvasive genomic sequencing diagnostic technologies could significantly enhance the accuracy of tumor diagnosis and provide powerful guidance for … new treatments," Chairman and Co-founder Yuan Gao said in a statement. "This new funding is a strong vote of confidence in our technologies, scientific research and commercial operations from a group of highly respected healthcare investors."